Price Futures Group's Phil Flynn says this is one of the rare opportunities where investors can buy both metals and stocks and still be in good shape since low-interest rates and global economic stimulus are supporting both of them.
U.S. equity futures are trading tentatively ahead of the start of the Tuesday Wall Street session.
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The major futures indexes are suggesting a slight gain.
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The price of gold jumped a fresh intraday high of $1,974.70 an ounce on Tuesday before retreating. Gold is pulling back, down $19.60 to $1911.50
Gold usually tends to rise when worries about the economy are high.
Much attention will be focused on a two-day meeting for the Federal Reserve that begins Tuesday, while hopes for more help for the American economy are rising as Congress debates another stimulus package.
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Investors are waiting to hear what the U.S. central bank says this week about the economy’s prospects and what it plans to do on interest rates.
The Tuesday earnings calendar includes five Dow members. 3M, Pfizer, Raytheon and McDonald's in the morning and Visa in the afternoon.
Investors will also get the latest on home prices with S&P CoreLogic Case-Shiller report for May.
In Europe, London's FTSE gained 0.4 percent, Germany's DAX added 0.3 percent and France's CAC is off 0.3 percent.
In Asian markets, Tokyo's Nikkei index slipped 0.3 percent, the Hang Seng in Hong Kong added 0.6 percent and China's Shanghai Composite rose 0.7 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 26584.77 | +114.88 | +0.43% |
| SP500 | S&P 500 | 3239.41 | +23.78 | +0.74% |
| I:COMP | NASDAQ COMPOSITE INDEX | 10536.267111 | +173.09 | +1.67% |
In the Monday session, the S&P 500 climbed 0.7 percent. The Dow Jones Industrial Average rose 0.4 percent and buying of technology shares helped push the Nasdaq composite 1.7 percent higher.
Benchmark U.S. crude is little changed at $41.60 per barrel in electronic trading on the New York Mercantile Exchange. It gained 31 cents to settle at $41.60 per barrel on Monday.
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Brent crude, the international standard, added 18 cents to $43.59 per barrel.
The Associated Press contributed to this article.
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Stock futures trade cautiously ahead of earnings, Fed meeting - Fox Business
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